New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-10-03

MONEY AND BUSINESS.

From season of moderate contraction, the
Street has passed to season Of sudden cxpan-
sion Of currency. Whether so great and
sudden a change was desirable is n question
for rulers business men have TO recognize
the fact that il has come. In thirty days Sec
rotary Fairchld has added more than
S3O,OOO.O00 to the circulation with the aid Of
large imports of gold from Europe. Within
the past week the Treasury has put out
50. 100000 more certificates. and Sl,200O00
more coin and legal tenders. During the
month it has increased the circulation of gold
certificates S9.2O0OOO. Of silver certificates
so, 100000, Of legal tenders 81. 100000 while
diminishing legal tender certificates 100000
and bank notes 100000. thus adding
S1S,535, 655 to the paper in actual circulation
At the same time net imports Of American
gold coin at New-York have been about
Sl,5OO.OOO; the Treasury has paid out for inn
ported bullion SG,SG2 $50 gold coin besides
the months coinage. and il has added to its
circulation Sl6S.G52 standard silver and
S1.164.3l2 fractional silver besides the
months coinage. The bonds purchased have
been S9.57S,250 of the 1-2 and 81, 1853, $50
OF the per cents, in all costing about
par value
The usual effects Of rapid expansion Of the
currency have been produced. The average
price Of stocks has risen during the week
81 GO per share and is now SO 10 above the
level Of September 20. Wheat has risen rs
cents corn rs cents. oats and oil each 5-S
cents coal 10 cents. butter and eggs cents.
and in spite Of decline in dressed hogs, lard
has advanced slightly. Cotton has declined
3-16. the movement being large; port receipts
in September were 654.776 bales, against
389.325 in the same month last year. and cx-
ports 21G,S13, against 155.331 bales. Re-
ccpts at interior towns have also been 397, 9I5
bales, against 255,927 last year. so that
1.O52.721 bales have left the plantations in
the first month, against 645252 in September
Of last wear.
Wheat shipments from the West have been
49S.637 bushels larger and flour 365,659
barrels larger than for four weeks last year, but
shipments Of corn and oats were little smaller.
Rail shipments of all kinds have been smaller
than last year by 100000 bushels. Exports
of flour are 302.625 barrels in excess of last
year. while the decrease in wheat for four
weeks has been 2.O53. 709 bushels, or % per
cent. and in corn S4S.7OO bushels. or over 40
per cent. Coal shipments arc Just now falling
below those Of last year. the latest live stock
shipments show but per cent increase. Wool
sales at Boston are less than half those of
corresponding weeks last year, and for the
year thus far only SO.OOO,O0O against
100, 600 900 pounds. decrease Of 80 per
cent. Iron and steel DO not grow stronger,
though the demand sustains prices uncxpcct-
cdly well considering the enormous output.
10 these general facts of the situation il
may be added that railroad earnings continue
TO show handsome gains. 6.33 per cent for the
first week of September. 1860 for the second.
and Il1G for the third over last year But
bank clearngs are Just now tending the other
way; the increase oxer last year was 9.9 per
cent for the first week of September, 10 for
the second only for the third. and in the
last week of September there appears de-
crease of 1875 per cent. At many Western
and Southern points the money market is tight.